Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The annual revenue of Amazon.com rose from approximately $10.7 billion in 2006 to $34.2 billion in 2010.(a)Use this information to find both a linear model

The annual revenue of Amazon.com rose from approximately $10.7 billion in 2006 to $34.2 billion in 2010.(a)Use this information to find both a linear model and an exponential model for Amazon.com's annual revenue I (in billions of dollars) as a function of time t in years since 2000. (Round all coefficients to three significant digits.)

linear model

I(t) =

exponential model

I(t) =

Which of these models would you judge to be more appropriate to the data shown below?

t (Year since 2000) 6 7 8 9 10
I ($ billions) 10.7 14.8 19.2 24.5 34.2

The ---Select--- linear model exponential model is more appropriate.(b)Use the better of the two models from part (a) to predict the 2007 figure and compare it with the actual figure above. (Round your answer to one decimal place.)The model yields an estimate of $ billion, which is not too far from the actual figure.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Cost Accounting Foundations and Evolutions

Authors: Michael R. Kinney, Cecily A. Raiborn

9th edition

9781285401072, 1111971722, 1285401077, 978-1111971724

Students also viewed these Mathematics questions

Question

Case : Karl and June Monroe

Answered: 1 week ago